Benchmarking model for management education in India: A total interpretive structural modeling approach

Management education has assumed phenomenal prominence in India in recent years, with branding being a prime factor used as a yardstick, rather a benchmark or point of reference, for one institution having an edge over the other. The purpose of this paper is to explore the factors leading to branding of management education in India. It proposes two frameworks using Total Interpretive Structural Model (TISM) for public and private sector management colleges. For this purpose, variables are extracted using systematic literature review, which play a crucial role in changing the dynamics of college rankings. The inquiry distinctly examines the nature of relationship between them for public and private colleges offering higher education. The study further proposes strategies for improvement of rankings by discussing the hierarchy and interrelationship among the enablers.

The study uses Interpretive Structural Model (ISM) to ascertain the linkages between the variables, and employs TISM to validate the reasons of association. The model was fabricated by consulting the experts from various spheres closely allied to branding and higher education, including the private agencies and decision makers in the selected colleges. The variables were furthermore structured for classification using Matrice d’Impacts Croises-Multiplication Appliqué an Classment Analysis.

It was observed that the variables behave differently when studied from the perspective of private sector colleges and public sector colleges; the former have seven levels of arrangement while it is only four for the latter. Quality of Faculty and Research were the key areas of concern for private sector colleges while infrastructure featured as a focal point for those in public sector. It was also evident that the placement of variables and their flow were different. Rankings should thus be premeditated differently for both the sectors and different weights should be assigned to rank the colleges.

The study is confined to branding of management education institutes in India, without considering other important disciplines for generalizing the framework. It is based on literature review followed by ISM, while other approaches such as ethnographic research methods and appreciative inquiry could have been possible alternatives as well.

The paper helps in developing different frameworks for private and public sector institutes, which would assist them to have a homogenous completion within their respective sectors. The study can be used to measure the performance of colleges on various parameters and gives them linking variables to enhance their productivity.

The paper discusses the need for developing a different barometer to measure the performance of private sector and public sector colleges offering higher education.